Orefinders Releases Stockpile Resource for Mirado: 20,742 Tonnes Averaging 4.41 gpt Au

Resource Investing News

Orefinders Resources Inc. (TSXV:ORX) identified a mineral resource of 20,742 tonnes of stockpiled material with an average grade of 4.41 grams per tonne gold (gpt Au) in three separate stockpiles located on the Mirado property.

As quoted in the press release:

The current mineral resources of the stockpiles, named Northern Pile, Central Pile and Southern Pile are reported using a conservative cut-off grade of 2.0 g/t Au. Composited data were capped at 16, 20 and 9 g/t Au for the Northern Pile, Central Pile and Southern Pile, respectively. The Mineral Resource Statement for the three stockpiles is shown in Table 1.
Table 1: Mineral Resource Statement*, Stockpiles, Mirado Gold Project, Ontario, SRK Consulting (Canada) Inc., October 25, 2013
Classification/Zone Quantity (tonnes) Grade Gold (gpt) Contained Gold (ounces)
Inferred
Northern Pile 12.194 4.71 1.847
Central Pile 4.011 5.38 693
Southern Pile 4.537 2.74 399
Total Inferred 20.742 4.41 2.939
* Mineral resources are not mineral reserves and do not have a demonstrated economic viability. All figures have been rounded to reflect the relative accuracy of the estimates. Figures are reported at a cut-off grade of 2.0 gpt gold, assuming a gold price of US$1,400 per ounce, and a metallurgical recovery of 95 percent.